May 30, 2016: India’s largest online marketplace, Snapdeal has established its data sciences centre in San Carlos, California, the New Delhi-headquartered company announced on Monday.
The centre will act as the focal point for the online retailer’s efforts in big data and advanced analytics, and will shape the SoftBank, Foxconn and Alibaba Group-backed Snapdeal’s business strategy, by looking to “optimise the operational efficiencies using data-driven algorithms, data analytics and predictive modelling,” according to an official statement released by the company.
Rohit Bansal, Chief Operating Officer said, “We have set up a Data science engine in California, which is home to domain talent, to further augment our efforts in creating a superior customer experience and strengthen our supply chain. Snapdeal is extensively working on data mining through an existing analytics team.”
The data sciences centre will be led by Nitin Sharma , senior vice president at Snapdeal, the press release said. It however did not disclose the number of hires made by the company for the centre.
Sharma also said, “We have a highly accomplished team which can distil key patterns, consumer preferences and hidden correlations by quickly analysing huge quantities of data. We will bring fresh insights to the existing work and will enhance customer experience through better planning and forecasting.”
Reduce Data, a programmatic display advertising and Silicon Valley-based startup was acquired by Snapdeal in September for an undisclosed sum. Founded in 2012 by Asif Ali, Reduce Data’s platform uses artificial intelligence, real-time data and other tools, to help brands deliver advertising strategies for consumers across platforms and devices.
Snapdeal also reported a month ago that it will focus on adding and retaining high-quality users, defined as frequent shoppers purchasing high-margin products, instead of relying on gross merchandise sales, which has thus far, been the primary metric of choice for online retailers globally, to quantify growth.
However, the company is not the first Indian startup to establish its presence outside domestic borders.